Aurelius Equity Opportunities has agreed to acquire Abelan Board Industrial, a core board and solid board packaging producer.
The companies have not disclosed the transaction value.
Representing Aurelius’ third acquisition in the European packaging sector since 2015, the deal is expected to strengthen the group’s operations in the packaging market.
After the completion of the acquisition, which is subject to customary closing conditions, Abelan managing director Simón Roda will continue to lead the company.
Abelan operations will be combined with those of Aurelius investee company Solidus Solutions that produces graphic and solid board packaging.
The integration is expected to create significant synergies across both companies’ production, purchasing and sale operations.
Aurelius board member Gert Purkert said: “We are extremely pleased to be announcing Aurelius’ acquisition of Abelan, a company performing impressively in a sector in which Aurelius has previously invested.
“This strategic acquisition will enable Solidus to further diversify its operations geographically, realise significant synergies, accelerate its growth into a leading pan-European mid-market business and establish itself as a true champion in the areas of solid board, graphic board and core board.”
Founded in 1911, Abelan is headquartered in San Andrés in northern Spain and has three manufacturing facilities in Spain and France.
The company’s first division specialises in the production of core board used for cardboard tubes, boxes and other packaging applications, while the solid board packaging division supplies a variety of boxes and trays to multiple European industries.